Undivided Trust Interest definition

Undivided Trust Interest shall have the meaning set forth in Section 4.1(a).
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Undivided Trust Interest means all assets of the Trust other than those divided, identified Trust Assets that are allocated to a SUBI.
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Undivided Trust Interest means the undivided interest in the Trust evidenced by a Certificate.
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Examples of Undivided Trust Interest in a sentence

  • Except to the extent required by law or specified in this Agreement, the Undivided Trust Interest shall not be subject to claims, debts, liabilities, expenses or obligations arising from or with respect to any SUBI or any Trustee.

  • The Undivided Trust Interest Certificates, taken together, evidence an exclusive undivided interest in the assets of the Origination Trust, other than SUBI Assets (each as defined in the Agreement); each other series of SUBI Certificates, taken together, will evidence an exclusive undivided interest in a separate SUBI Portfolio other than the Transaction SUBI Portfolio.

  • Undivided Trust Interest Certificates” (the “Undivided Trust Interest Certificates”), and the others each designated as “VW Credit Leasing, Ltd.

  • Special Unit of Beneficial Interest Certificates” (the “SUBI Certificates” and, together with the Undivided Trust Interest Certificates, the “Certificates”).

  • Any portion of any Undivided Trust Interest Certificate may be set forth on the reverse or subsequent pages thereof.

  • Each Undivided Trust Interest Certificate shall be printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced or may be produced in any other manner as may, consistently herewith, be determined by the Initial Beneficiary.

  • Without limiting the foregoing, each holder, assignee or pledgee of an Undivided Trust Interest or Undivided Trust Interest Certificate shall be deemed to have released and waived all claims against or with respect to all assets allocated to each SUBI Portfolio and, in the event that such release is not given effect, to fully subordinate all claims it may be deemed to have against all Trust Assets allocated to each SUBI Portfolio.

  • Except as set forth in any applicable UTI Supplement, any Undivided Trust Interest Certificate shall be in substantially the form of Exhibit B hereto, with such appropriate insertions, omissions, substitutions and other variations as are required by this Agreement, and may have such letters, numbers or other marks of identification and such legends and endorsements placed thereon as may, consistently herewith, be approved by the Initial Beneficiary.

  • Upon their allocation as SUBI Assets, such Trust Assets shall no longer be assets of, or allocated to, the Undivided Trust Interest (unless and until specifically reallocated to the Undivided Trust Interest from that SUBI Portfolio pursuant to the terms hereof).

  • Undivided Trust Interest Certificates" (the "Undivided Trust Interest Certificates"), and the others each designated as "VW Credit Leasing, Ltd.


More Definitions of Undivided Trust Interest

Undivided Trust Interest or "UTI" means the exclusive, undivided beneficial interest in all Titling Trust Assets (including Contracts and Leased Vehicles), other than SUBI Assets, held by the UTI Beneficiary.
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Undivided Trust Interest or “UTI”: This term shall have the meaning set forth in Section 4.1(a) of the Trust Agreement.
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Undivided Trust Interest or "UTI" means the exclusive, undivided beneficial interest in all Trust Assets (including Contracts and Leased Vehicles), other than SUBI Assets, held by the UTI Beneficiary.
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Related to Undivided Trust Interest

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Undivided Interest means the undivided interest in the Trust evidenced by an Investor Certificate.

  • Pledged Trust Interests means all interests in a Delaware business trust or other trust including, without limitation, all trust interests listed on Schedule 4.4(A) under the heading “Pledged Trust Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such trust interests and any interest of such Grantor on the books and records of such trust or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such trust interests.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Percentage Interest means, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal Balances of all of the Notes.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Undivided profits means the amount of retained earnings and any additional amounts held in capital reserve accounts of the savings bank.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Water interest means any right to the beneficial use of water, including:

  • Transferor Interest has the meaning specified in the Transfer Agreement.